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Altruism, Fertility, and the Value of Children: Health Policy Evaluation and Intergenerational WelfareJavier Arturo BirchenallUniversity of California, Santa Barbara - Department of Economics Rodrigo R. SoaresUniversity of Maryland - Department of Economics; Pontifical Catholic University of Rio de Janeiro (PUC-Rio) - Department of Economics; Institute for the Study of Labor (IZA) May 2007 IZA Discussion Paper No. 2783 Abstract: This paper accounts for the value of children and future generations in the evaluation of health policies. This is achieved through the incorporation of altruism and fertility in a "value of life" type of framework. We are able to express adults' willingness to pay for changes in child mortality and also to incorporate the welfare of future generations in the evaluation of current policies. Our model clarifies a series of puzzles from the literature on the "value of life" and on intergenerational welfare comparisons. We show that, by incorporating altruism and fertility into the analysis, the estimated welfare gain from recent reductions in mortality in the U.S. easily doubles.
Number of Pages in PDF File: 34 Keywords: value of life, mortality, fertility, altruism, intergenerational welfare, willingness to pay JEL Classification: J17, J13, I10 working papers seriesDate posted: May 17, 2007Suggested CitationContact Information
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